$1 Trillion Investment Firm Ready to Trade Crypto

$1 Trillion Investment Firm Ready to Trade Crypto

There are many mainstream investors positioning themselves to invest in digital coins. In a recent report from a team that includes equity research analyst Matthew Lipton and trading technologies principal Lee Saba one of them is Boston-based Wellington Management Co.

The firm with $1 trillion under management is considering including cryptocurrencies in some portfolios. The company’s systems were upgraded to enable trading in Bitcoin derivatives, and Wellington has started taking positions in companies related to cryptocurrencies.

“Various Wellington teams are already positioning portfolios to take advantage of mining and blockchain implementations by, for example, investing in select chipmakers making components”

Shares in Taiwan Semiconductor Manufacturing Co., which manufactures chips for Nvidia Corp. and Advanced Micro Devices Inc., have climbed 34 percent since the beginning of 2017 and surged to a record in January. Nvidia more than doubled in the period. Demand for the high-powered chips used in crypto mining comes at a welcome time for TSMC amid waning smartphone sales in China.

Wellington is keen to stress that, for now, it’s not snapping up direct exposures in Bitcoin and related currencies, dubbing its official stance as “cautious.” As the firm’s analysts dig deeper into digital tokens, they plan to say more on the outlook in the near future.

Comments are off this post!

Advertisement

Our Sponsors

About

Coindaily.co provides the latest news on bitcoin, ehtereum, and all cryptocurrency.

Check back on a daily basis to keep up to date and informed.

Disclaimer:
The information provided on this website does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of the website’s content as such. CoinDaily does not recommend that any cryptocurrency should be bought, sold or held by you and nothing on this website should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision.